CEO Ellen Kullman Updates Investors on Growth Opportunities in Increasing Food Productivity, Decreasing Dependence on Fossil Fuels, Protecting Lives, Growing in Emerging Markets
NEW YORK, May 28 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD) is well-positioned for growth opportunities with innovations that are addressing major global market trends, said DuPont CEO Ellen J. Kullman at an investors' conference here today. Kullman said the company's research and development efforts are focused on global needs for increasing food productivity, decreasing dependence on fossil fuels, protecting lives and growing in emerging markets.
"DuPont is a market-driven science company," Kullman said at the Sanford Bernstein Strategic Decisions Conference. "That simple statement describes us whether we're at the peak of an economic cycle or experiencing a global recession -- innovation is a critical lever at all times for DuPont. Our innovation objectives are focused on key global market trends. These trends provide a compass to guide our research and development on new products, creating opportunities for innovation by DuPont."
Kullman said 77 percent of DuPont's $1.4 billion R&D budget is directed at three global "megatrends" of increasing food productivity, decreasing dependence on fossil fuels and protecting lives. With greater emphasis on the execution of its product development efforts, DuPont delivered more than $10 billion in sales from new products that are less than five years old in 2008. In first quarter 2009, DuPont commercialized more than 500 new products to the market -- nearly double compared to first quarter 2008.
"Innovation has the potential to better feed the world, address global energy challenges and provide safer and more secure lives for people everywhere. DuPont is pursuing innovati
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